Paycheck Protection Program (PPP) Report (Approvals through 06/12/2020)
Summary
The Small Business Administration's Paycheck Protection Program report of approvals through 06/12/2020 counts 4,576,388 loans with net dollars of $512,271,684,146 from 5,457 lenders. Lenders with less than $10 billion in assets made 2,289,771 loans worth $224,802,425,907, or 44% of the amount. JPMorgan Chase Bank led lenders with 257,860 loans worth $28,633,018,520, followed by Bank of America with 328,993 loans worth $25,069,189,752. California led states with 537,614 loans, and the report gives an overall average loan size of $112K. It lists $129,753,635,070 in funding remaining and calls that number an approximation while SBA revises remaining funds after the Paycheck Protection Program Flexibility Act of 2020.
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Paycheck Protection Program
(PPP) Report
Approvals through 06/12/2020
Summary of PPP Approved Lending
Loan Count Net Dollars Lender Count
4,576,388 $512,271,684,146 5,457
Lender Loan % of
Lender Size Net Dollars
Count Count Amount
>$50 B in Assets 34 1,576,461 $187,601,507,342 37%
$10 B to $50 B in Assets 90 710,156 $99,867,750,897 19%
<$10 B in Assets 5,333 2,289,771 $224,802,425,907 44%
Totals reflect both rounds of PPP funding and cancellations through the report date.
Cancellations do include duplicative loans, loans not closed for any reason, and loans that have
been paid off.
Approvals through 06/12/2020 2
PPP Round 2 Lender Segments
Lender Loan
Lender Size Count Count Net Dollars Round 2
Round 2 Round 2
>$50 B in Assets 34 1,241,380 $91,450,546,238
$10 B to $50 B in Assets 90 411,178 $29,468,691,698
<$10 B in Assets 5,323 1,298,425 $68,388,879,876
Lender Loan
Lender Group Count Count Net Dollars Round 2
Round 2 Round 2
CDFIs 302 61,654 $2,983,666,175
CDFI lenders and associated loans are also captured in the <$10 billion or less lender asset size.
Approvals through 06/12/2020 3
Lender Segments
CDFI’s and MDI’s
Lender Type Lender Count Loan Count Net Dollars
CDFIs 303 96,648 $7,201,847,138
MDIs 171 111,093 $10,237,157,840
- minus CDFI/MDIs identified in
both groups 50 14,602 $1,477,497,693
Total 424 193,139 $15,961,507,286
Lenders with <$1b Assets and Non-Banks
Lender Type Lender Count Loan Count Net Dollars
Banks (less than $1b) 3,567 995,360 $83,329,581,661
Small Business Lending Companies 14 59,616 $6,392,815,813
Credit Unions (less than $1b) 721 58,089 $2,920,588,353
Fintechs (and other State Regulated) 19 86,350 $2,519,159,905
Farm Credit Lenders 54 14,227 $1,282,464,805
Savings & Loans (less than $1b) 77 10,991 $1,020,454,619
Certified Development Companies 19 6,177 $344,008,406
Non Bank CDFI Funds 8 5,774 $291,482,648
Microlenders 32 5,559 $177,558,436
BIDCOs 1 23 $787,713
Total 4,512 1,242,166 $98,278,902,359
* Loans from CDFI/MDI banks with <$1b Assets and non-bank CDFIs are captured in both tables.
Approvals through 06/12/2020 4
States and Territories
Loan Loan
State Loan Count Net Dollars State Count Net Dollars State Count Net Dollars
AK 10,365 $1,220,680,104 LA 69,202 $7,241,363,297 OR 58,824 $6,823,353,161
AL 62,054 $6,112,307,591 MA 107,431 $14,151,110,970 PA 158,720 $20,533,839,876
PR 33,573 $1,747,031,385
AR 41,112 $3,277,356,393 MD 75,459 $9,852,395,498
RI 16,370 $1,858,135,650
AS 145 $7,043,823 ME 26,128 $2,212,903,128
SC 59,891 $5,650,936,213
AZ 76,023 $8,464,610,652 MI 115,043 $15,722,896,546
SD 21,533 $1,647,772,605
CA 537,614 $66,669,235,081 MN 93,533 $11,086,134,591
TN 87,513 $8,790,096,017
CO 99,807 $10,234,368,111 MO 87,797 $9,050,042,956 TX 364,506 $40,314,507,983
CT 57,267 $6,606,171,723 MP 414 $36,763,173 UT 48,861 $5,188,288,610
DC 11,553 $2,111,474,209 MS 43,420 $3,139,550,768 VA 103,066 $12,426,022,067
DE 11,823 $1,464,937,506 MT 22,399 $1,746,953,456 VI 1,548 $119,316,624
FL 355,985 $30,831,971,178 NC 114,960 $12,249,023,295 VT 11,361 $1,173,838,271
GA 140,997 $14,042,012,004 ND 19,183 $1,754,925,373 WA 94,873 $12,093,612,342
GU 2,004 $192,582,619 NE 40,963 $3,400,263,865 WI 81,801 $9,782,045,310
HI 23,786 $2,465,011,254 NH 22,785 $2,519,389,497 WV 16,665 $1,778,813,877
IA 55,954 $5,025,766,026 NJ 136,869 $16,898,328,549 WY 12,895 $1,021,036,842
ID 29,051 $2,546,673,937 NM 20,991 $2,214,640,096 To be confirmed 173 $6,409,358
IL 188,227 $22,106,605,387 NV 39,245 $4,037,989,691
IN 75,183 $9,379,316,204 NY 297,775 $37,548,994,774
KS 50,103 $4,944,008,523 OH 132,731 $18,152,557,128
KY 46,511 $5,196,814,859 OK 62,323 $5,401,454,117
Approvals through 06/12/2020 5
Loan Size
% of % of
Loan Size Loan Count Net Dollars
Count Amount
$50K and Under 2,983,218 $54,881,376,826 65.2% 10.7%
>$50K - $100K 657,720 $46,844,883,291 14.4% 9.1%
>$100K - $150K 285,539 $34,957,439,183 6.2% 6.8%
>$150K - $350K 370,507 $83,240,884,629 8.1% 16.2%
>$350K - $1M 197,277 $112,238,433,258 4.3% 21.9%
>$1M - $2M 52,586 $72,856,742,215 1.1% 14.2%
>$2M - $5M 24,734 $73,523,496,712 0.5% 14.4%
>$5M 4,807 $33,728,428,031 0.1% 6.6%
* Overall average loan size is: $112K.
Approvals through 06/12/2020 6
Top PPP Lenders
% of Total
Rank Lender Name Loan Count Net Dollars Average Loan Size
Authority
1 JPMorgan Chase Bank 257,860 $28,633,018,520 $111,041 4.3%
2 Bank of America 328,993 $25,069,189,752 $76,200 3.8%
3 PNC Bank 72,705 $13,051,904,871 $179,519 2.0%
4 Truist Bank 74,001 $12,910,364,033 $174,462 2.0%
5 Wells Fargo Bank 173,902 $10,229,959,006 $58,826 1.5%
6 TD Bank 80,086 $8,390,956,498 $104,774 1.3%
7 KeyBank 39,590 $8,054,444,760 $203,446 1.2%
8 U.S. Bank 93,234 $7,144,786,434 $76,633 1.1%
9 Zions Bank 44,010 $6,834,112,154 $155,285 1.0%
10 M&T Bank 34,742 $6,785,949,823 $195,324 1.0%
11 Huntington Bank 35,350 $6,459,488,606 $182,730 1.0%
12 Fifth Third Bank 36,090 $5,372,235,710 $148,857 0.8%
13 Citizens Bank 48,491 $4,965,576,541 $102,402 0.8%
14 BMO Harris Bank 20,755 $4,776,803,812 $230,152 0.7%
15 Cross River Bank 106,116 $4,700,319,635 $44,294 0.7%
Approvals through 06/12/2020 7
Industry by NAICS Sector
Loan % of
NAICS Sector Description Net Dollars
Count Amount
Health Care and Social Assistance 479,650 $66,292,313,990 12.94%
Professional, Scientific, and Technical Services 595,293 $65,309,212,473 12.75%
Construction 438,921 $63,649,725,461 12.42%
Manufacturing 221,051 $53,513,293,921 10.45%
Accommodation and Food Services 347,553 $41,177,730,603 8.04%
Retail Trade 425,701 $39,729,580,053 7.76%
Other Services (except Public Administration) 484,161 $30,198,840,159 5.90%
Wholesale Trade 159,639 $27,417,933,285 5.35%
Administrative and Support and Waste Management and Remediation Services 226,726 $26,050,426,337 5.09%
Transportation and Warehousing 161,794 $16,386,158,203 3.20%
Real Estate and Rental and Leasing 227,717 $15,212,964,843 2.97%
Finance and Insurance 157,874 $11,972,703,265 2.34%
Educational Services 75,139 $11,777,762,272 2.30%
Unclassified Establishments 222,980 $9,938,249,311 1.94%
Information 64,627 $9,085,575,653 1.77%
Arts, Entertainment, and Recreation 107,810 $7,714,593,398 1.51%
Agriculture, Forestry, Fishing and Hunting 130,512 $7,656,804,061 1.49%
Mining 20,743 $4,470,882,471 0.87%
Public Administration 12,590 $1,705,345,108 0.33%
Management of Companies and Enterprises 8,417 $1,559,460,156 0.30%
Utilities 7,490 $1,452,129,120 0.28%
Approvals through 06/12/2020 8
Amount of Funding Remaining
$129,753,635,070
The above number is an approximation. SBA is currently revising remaining funds amount with the
enactment of the Paycheck Protection Program Flexibility Act of 2020. Available funds captures
approvals net of cancellations as well as loan increases, decreases, and reinstatements. This
approximation accounts for statutory program costs.
Approvals through 06/12/2020 9
File and source
- File
- 2020-06_PPP_Report_20200612.pdf
- Size
- 729,800 bytes
- SHA-256
- f01f915bfc28dd54a3936991977d04b1af59267f24b7b2058b0878c3b8c12cdd
- Our copy
- 2020-06_PPP_Report_20200612.pdf
- Original
- www.sba.gov